Singer Sri Lanka Ltd. sustained a strong growth thrust in the first quarter of 2006 recording an 18.5 per cent increase in revenue compared with the same period last year. Revenue increased from Rs. 2,508.4 million in the first quarter 2005 to Rs. 2,971.9 million this year.

Dominating volume growth were the relatively new product categories such as CDMA phones and personal computers in goods, and satellite TV connections in services.

"There is a need to refocus on traditional categories which previously powered Singer growth as markets are slowing down while consumers reject unfair indirect taxes such as excise duty and/or cess which are burdened upon them for essential durable items such as refrigerators and televisions now considered a ‘must’ to have by all citizens above the poverty line," says Singer Chairman Hemaka Amarasuriya commenting on this trend of sales growth.

The Company recorded a gross profit of Rs 1,027.7 million in the first quarter – a 25.3 per cent increase for the same period last year. The net profit amounted to Rs. 129.5 million, an increase of 1.6 per cent from last year.